Valuation of the estate To determine the value of the right of usufruct, use or habitation, as well as that of annuity, there shall be taken into account the probable life of the beneficiary in accordance with the latest Basic … Continue reading →

Under the Tax Code, individual taxpayer’s items of income are grouped together as follows: Compensation Income – derived from employment Capital Gains – derived from sales of real property or shares of stocks. Passive Income – derived from winnings, cinematographic … Continue reading →

Personal exemptions are arbitrary amounts allowed for personal,living, or family expenses of the taxpayer. The amount is 50 000 pesos for each individual taxpayer. In case of married individuals where only one spouses is deriving gross income, only such spouse … Continue reading →

I might not be the right person to give an advice on how to pass the upcoming CPA board examination because I also suffering from laziness, overload, overwhelming materials and time. I would like to encourage those that are on … Continue reading →

We are one step forward to become a CPA, here is the procedure to register for the upcoming exam on Sept 14,15 and 16; Prepare the following documents: Passport Size Photo (jpg format) Transcript of Records NSO Birth Certificate If … Continue reading →